Managing Proposals With A Start Up
For your business to have long-lasting success, you need to be able to generate business proposals for each investor. Having multiple opportunities available is the best way to ensure results with potential investors; however, in order to maintain those relationships, follow up is key. When you submit tens or even hundreds of proposals at once, managing each one becomes overwhelming. Here are some top reasons why tracking and following up investor proposals is so important:
A backer needs assurance that their investment will yield a return. Demonstrating your belief in your idea and its potential will demonstrate your dedication to fighting for your business. Contacting potential investors doesn’t come off as a desperate plea, it just demonstrates your interest in having them as an investor and the success of your venture.
Your competition may already be doing it:
When capital becomes available for investment, it usually goes to the opportunity that comes first to an investor. The company that responds and follows up quickly on any follow-ups is more likely to become a partner in business. Studies show that 35-50% of investment funds go to the first vendor who shows up. If you want quality business proposals, show up early and be the first one following up.
Technology can help:
Online you will find plenty of advice for crafting effective proposals and starting the correct follow-up. You also have access to tools that make sending out multiple proposals easy, managing responses through an e-mail client of your choice easier than ever before. Furthermore, tracking features ensure you know when someone has opened your proposal and taken time reviewing it thoroughly.
Exposure is Key:
According to marketing research, the average consumer needs seven exposures of a brand or product before they will invest in it. Building trust takes time, which means properly marketing your proposal to potential investors.
This post was written by Tara Kintz. Tara is a director at Signature Workspace which is a Tampa office space. Signature Workspace, owned and operated by Cantor Fund Management, offers services and amenities such as private offices, flex space, co-working space, virtual offices, meeting/conference rooms, and more.